Average college tuition in the US is currently about $19,800. This can put off some people from pursuing a degree. However, higher education ought to be something that is accessible to all and it’s important to know that there are solutions available for those from low income backgrounds. Below are just some of the different ways in which you can make college more affordable.
Compare college fees and resources
Tuition fees vary depending on where you choose to study. Students at private colleges typically pay upwards of $30,000, with some Ivy League colleges costing as much as $60,000. The average tuition cost of studying at a public university in a different state is closer to $20,000. Meanwhile, studying at a public university in your state can result in tuition fees of just over $10,000.
Some colleges offer added discounts and free perks for certain students. This could allow you to study at an in-state university for much less than $10,000. Believe it or not, but there are even some colleges that offer free tuition fees to low income students. Some may also offer free accommodation, free study resources and even free childcare to students with kids. Eligibility requirements vary, so take time to do your research.
Take an online course
When you study online, you don’t have to pay for local accommodation. This can be useful if you don’t already live near a college.
Most colleges now offer online courses, giving you just as much choice of courses as you would have when studying on campus. Tuition fees are not too different compared to on-campus courses. That said, there are some universities that offer cheaper online courses. These are worth looking into if you don’t mind studying remotely.
Online courses can have other perks such as added flexibility to study around commitments. Just consider the fact that you won’t get to experience the traditional college lifestyle (which can be a big part of the appeal for some students).
Consider applying for a loan
If you’re not fortunate enough to have college fund saved up, you can always take out a student loan. This could be a loan from a private lender or a federal loan.
Federal loans are often the best choice. They may come with lower interest rates, flexible repayment options and even the option of loan forgiveness. To apply for such loans, you must make sure that you meet eligibility requirements.
Private loans should be approached with more caution. If you do take out such a loan, try to make sure that it is targeted at students and that it is not a regular personal loan. Some of these private loans may have some of the perks of federal loans, although it is unlikely you will get as good a deal.
Look into scholarship opportunities
Obtaining a scholarship is not easy. This is when a college or third party pays for your entire studies.
Colleges will usually provide scholarships to gifted students who have outstanding academic results or who are promising professional athletes. Each college will only give out a limited amount of scholarships each year, making the application process very competitive.
There are also some companies that will pay for students to get a degree on the condition that they work for their company after graduating. These scholarships can also be highly competitive, but you may not have to be as gifted to apply.
Get help exploring more financial aid options
There are so many other unique financial aid options available from federal student grants to state programs. The best way to explore these is to look into financial aid consulting. You can pay privately for this, but you may find that your school is already able to provide it. A financial aid consultant should be able to tell you the best options available to you in order to help you save the most amount of money if this is your priority.
Aim to work and study at the same time
Some people work and study at the same time. This can be challenging because it does mean sacrificing much of your free time. However, working could help you earn a wage to go towards paying student expenses. Even if you don’t use your wage to pay for tuition, it could help you to afford other living costs, allowing you to make the most of your student experience when you do have some time to yourself.
